...I did not realise that Melbana Energy is MEO as it was known previously.
...MEO was a favourite of the 2007 era and back in vogue in 2008-09 when LNG (the stock with the ant logo) was the market darling, which subsequently went into administration.
...since the end of the LNG craze, there have been a number of periodic X-mas tree formations and there seems to be quite a following on HC. The presence of numerous X-mas trees suggest that there has been few rounds of speculative activity that didn't deliver to instead cause a sustainable rise in stock price.
...but I always cast a question mark on the merits of backing a past hero, especially those that change their names. Today the stock sank -44% htting a 52-week low on a disappointing announcement.
5 year view then All time view
MAY Stock Price and Chart — ASX:MAY — TradingView
...I did not realise that Melbana Energy is MEO as it was known...
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